European petrochemicals

Five years on, the industry is leaner, but its competitiveness is still in doubt

3:39 PM MDT | September 23, 2013 | —Francinia Protti-Alvarez

The European petrochemical industry went through a deep recession during the last five years, but has emerged leaner and more efficient. Demand growth is returning gradually, but rates are unspectacular compared with growth in other regions of the world. Europe’s challenges remain its high-cost production, the threat posed by new and planned capacities in other regions, and the cooling demand in emerging markets.